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Net Income (Loss) Per Share (Tables)
6 Months Ended
Jun. 30, 2013
Net Income (Loss) Per Share  
Schedule of reconciliation between net income (loss) and the amounts used to compute basic and diluted net income (loss) per share and the weighted average shares outstanding used to compute basic and diluted net income (loss) per share

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

 

 

(In thousands, except per share data)

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(70,816

)

$

(24,843

)

$

(50,722

)

$

(62,384

)

Less: Basic income allocable to participating securities(1)

 

 

 

 

 

Basic net income (loss) allocable to common shareholders

 

(70,816

)

(24,843

)

(50,722

)

(62,384

)

Diluted adjustments to income allocable to participating securities(1)

 

 

 

 

 

Diluted net income (loss) allocable to common shareholders

 

$

(70,816

)

$

(24,843

)

$

(50,722

)

$

(62,384

)

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average number of shares used to compute net income (loss) per share:

 

 

 

 

 

 

 

 

 

Basic

 

376,563

 

370,720

 

375,927

 

369,973

 

Restricted stock awards and units(1)(2)

 

 

 

 

 

Diluted

 

376,563

 

370,720

 

375,927

 

369,973

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.19

)

$

(0.07

)

$

(0.13

)

$

(0.17

)

Diluted

 

$

(0.19

)

$

(0.07

)

$

(0.13

)

$

(0.17

)

 

(1)                                 Our service vesting restricted stock awards represent participating securities because they participate in nonforfeitable dividends with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Our restricted stock awards with market and service vesting criteria and all restricted stock units are not considered to be participating securities and, therefore, are excluded from the basic net income (loss) per common share calculation. Our service vesting restricted stock awards do not participate in undistributed net losses and, therefore, are excluded from the basic net income (loss) per common share calculation in periods we are in a net loss position.

 

(2)                                 We excluded outstanding restricted stock awards and units of 14.2 million and 16.9 million for the three months ended June 30, 2013 and 2012, respectively, and 14.2 million and 16.9 million for the six months ended June 30, 2013 and 2012, respectively, from the computations of diluted net income per share because the effect would have been anti-dilutive.